DIR 3 KYC Due Date 2021: Everything You Need to Know

The DIR 3 KYC due date is fast approaching, and it's essential for companies to ensure they meet the regulatory requirements. Failing to submit the required information by the specified deadline can result in significant consequences, including penalties and fines.

What is DIR 3 KYC?

DIR 3 KYC stands for Director Identification Number (DIN) - KYC (Know Your Customer). It is a compliance requirement mandated by the Ministry of Corporate Affairs (MCA) for all directors of Indian companies. The objective of DIR 3 KYC is to verify and update the personal and professional details of directors, enhancing transparency and accountability in corporate governance.

DIR 3 KYC Due Date 2021

According to the latest MCA notification, the DIR 3 KYC due date for the financial year 2020-21 has been extended to 30th September 2021. This extension provides companies with additional time to complete the KYC process.

Failure to Comply

Companies that fail to submit DIR 3 KYC by the due date will face consequences, including:

• Penalties ranging from ₹5,000 to ₹50,000
• Disqualification of directors
• Suspension of DINs

How to File DIR 3 KYC

Filing DIR 3 KYC involves the following steps:

1. Obtain a DSC (Digital Signature Certificate)
2. Log in to the MCA portal
3. Navigate to e-Forms and select DIR 3
4. Enter the required information
5. Upload supporting documents
6. Digitally sign the form
7. Submit the form

Required Documents

The following documents are required to support the DIR 3 KYC filing:

Effective Strategies for DIR 3 KYC Compliance

• Plan ahead: Start the process early to avoid last-minute rush.
• Collect the required documents: Gather all necessary documents in advance.
• Seek professional assistance: If needed, consult a chartered accountant or company secretary for guidance.
• Use e-filing: The online portal simplifies the filing process.
• Keep track of submissions: Maintain records of all DIR 3 KYC submissions.

Common Mistakes to Avoid

• Incomplete or inaccurate information: Ensure that all fields are filled out accurately.
• Missing or invalid supporting documents: Verify that all supporting documents are present and valid.
• Incorrect DSC: Use a valid DSC issued by a certified authority.
• Delay in submission: Avoid submitting DIR 3 KYC after the due date.
• Ignoring penalties: Failure to comply can result in significant penalties.

Step-by-Step Approach to DIR 3 KYC Filing

Step 1: Obtain DSC

Obtain a DSC from a certified authority.

Step 2: Log in to MCA Portal

Visit the MCA portal (https://mca.gov.in/) and log in using your credentials.

Step 3: Navigate to e-Forms

Click on "e-Forms" from the left-hand menu and select "DIR-3 KYC."

Step 4: Enter Information

Enter the following information:

• DIN
• PAN
• Personal details
• Professional details

Step 5: Upload Documents

Upload the required supporting documents.

Step 6: Digitally Sign

Digitally sign the form using your DSC.

Step 7: Submit

Submit the form and note the acknowledgment number for future reference.

FAQs on DIR 3 KYC

Q1: What is the difference between DIN and DIR 3 KYC?

A1: DIN is a unique identification number assigned to directors of Indian companies, while DIR 3 KYC is the process of verifying and updating their personal and professional information.

Q2: Can I file DIR 3 KYC offline?

A2: No, DIR 3 KYC can only be filed online through the MCA portal.

Q3: What are the consequences of not filing DIR 3 KYC?

A3: Penalties, director disqualification, and suspension of DINs.

Humorous Stories and Lessons Learned

Story 1:

A company director realized at the last minute that he had not filed DIR 3 KYC. In a panic, he called a friend who was a chartered accountant. The friend advised him to file an urgent application with the MCA, explaining the situation and requesting an extension. To the director's relief, the MCA granted the extension, and he managed to file DIR 3 KYC before the deadline.

Lesson: Don't procrastinate important matters. Leave ample time for compliance.

Story 2:

A company secretary was frantically trying to submit DIR 3 KYC for multiple directors. In her haste, she accidentally uploaded the wrong supporting document for one of the directors. Upon submitting the form, she realized her mistake and immediately contacted the MCA. Fortunately, the MCA allowed her to rectify the error and resubmit the form with the correct document.

Lesson: Pay attention to details and make sure all documents are correct.

Story 3:

A director had filed DIR 3 KYC for himself and all other directors of his company. However, he later discovered that one of the directors had not actually authorized him to file on their behalf. The MCA detected the discrepancy and suspended the DINs of both directors.

Lesson: Obtain proper authorization before filing DIR 3 KYC on behalf of others.

Useful Tables

Table 1: DIR 3 KYC Filing Fees

Table 2: Timeline for DIR 3 KYC Filing

Table 3: Signatory Requirements for DIR 3 KYC Filing